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Your World With Neil Cavuto

News/Business. Money tips from Wall Street. New. (CC)

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Us 14, United Nations 8, China 7, America 6, Binyamin Netanyahu 6, Huckabee 5, Europe 5, Romney 4, John F. Kennedy 4, Washington 4, United States 4, G.e. 4, U.s. 4, Bob 4, Motorola 3, Chicago 3, John Kerry 3, Obama 3, Britain 3, The Economic Data 2,
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  FOX News    Your World With Neil Cavuto    News/Business. Money tips  
   from Wall Street. New. (CC)  

    September 28, 2012
    4:00 - 5:00pm EDT  

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vigilant the next two weeks. that's it for "stuo b" on a friday afternoon. the dow is down today. we are off 50 points. con text and perspective from neil cavuto. for all of us on "studio b". hope to see you monday. >>shepard: good have a good weekend. >>neil: a good september for stocks and a better quarter on stocks have some thinking that president obama is a "bye." if market pundits are right, mitt romney shut be scare the because a reliable barometer just turned bad for him. stocks closing out the trading month up and the latest quarter up a lot more. the dow, despite today's soft performance, surging 2 percent
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this month, almost double that in the last three months. stronger quarterly gains for the s&p 500 and nasdaq which means in an election year, good for the incumbent almost every election year. 39 days out, does that mean that the president is in? our market watcher says no, not when you factor the recent state of bad economic numbers. or the scores of major u.s. companies throwing workers out. larry, which is the more dominant theme? >>guest: just to illustrate that point, look no further than a country like greece on the verge of a depression, 25 percent unemployment, civil unrest, yet their stock market is up almost as much as our stock market. it shows you how disconnected main street has become from wall street in this committee. the reason for that is because of unprecedented central bank easing. that is what we are seeing. that is playing out in storms
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around -- stock markets around the world. they say don't fight the fed based on the hope that the federal reserve can solve all main street and wall street problems. the reality is, it is different for main treaty. the economic data is coming in very weak at an alarming pace. chicago purchasing managers, a broad gauge of midwestern economic activity the lowest level in three years. with the g.m. early this week with durable goods, we have a weak equation. throwing in corporate earnings, weakening. federal express, intel, caterpillar, bellweathers for the economy, it sends a weak signal about the economy. sooner or later, gravity will overwhelm the central bank easing. the question is, does it happen before or after the election? >>neil: we live in the moment and i do not dispute what you are saying. but i do say the barometer has been right 90 percent of the time. as the quarter goes before the election, so go the election for
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or against the incumbent. this are many other barometers that point in a variety different ways so this is one of them. it doesn't necessarily mean anything. i am wondering if what this is saying for president obama is that people are going to look at their financial statements, if they are lucky enough to have accounts and they are up, or they will look at their home values if they are lucky enough to have a home going up in value and they feel, on paper, some of this wealth affect we hear about. you dismiss that? >>guest: well, it is a good point that perhaps what this is telling us is that bernanke at the federal reserve is throwing the kitchen sink at this to stimulate it through the economy, through the election, and stimulate us through the fiscal cliff which could lead to asession down the line. the question is, are investors going to look at main street data and see the weakness which business owners see each day or will it look at the 401(k)
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state? the short run the 401(k) sames are powerful. in the long run, the economic data is reality. we know that the federal reserve alone cannot solve the world's problems. you have to have harmony in washington, you have to have uni in washington and a plan in washington. you cannot see that right now. that reality may not take place until after the election. it is a challenging time. heed lessons of history. when we have seen the disconnect before it ends badly and it is at the peril of the investors. with the real estate bubble it ended badly. the technical bubble, stocks with no earnings, it end badly. learn the lessons. look at history books. make sure you protect your assets. always be mind will of the fact there are many, many challenges ahead. >>neil: bottom line is, i guess, we have no idea. now to the issue that could rattle the president's chances having in to do with the economy, nothing to do with the markets.
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i'm talking about libya. what did the president know about increasing threats and when did he know it? inquiring politicians want to know and not just republican ones. democrat john kerry wants to get to the bottom of what u.s. authorities knew about escalating terror threats in libya. supposedly there were 20 cables warning the state department how to proceed at the embassy including pole from the late ambassador chris stevens himself why governor huckabee says this is escalating fast. when democrats want to know the chain of evens here, this goes beyond a political thing. >>governor huckabee: it does and it should. this is not about the politics of this election, this is about the integrity of the white house and whether or not we are going to stand by and allow our government to openly lie to us about why did chris stevens die? why did three other americans die with him? what did we know? when did we know it?
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why do we continue to blame a 13 minute youtube video when it was over didn't this was not a spontaneous mob. that was the official story that came from the white house and the state department. >>neil: what do you think might have been the reason for not calling it a terrorist attack or getting this stuff out about cables and communications? where is the political downfall or risk in just calling a spade a spade? >>governor huckabee: it is hard for me to understand. i am guessing. it is inexplicable why you would not go out and say, look this was a terrorist attack. it is september 11th, this is a special day to news terms of our memories. it is a special day to them because they think it was a great victory for them. the only thing you can begin to imagine is that with the death of osama bin laden it may be that the administration wanted to say, see, the war on terror
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is over. but this is a whole network of people across the lord -- world who still hate us and want to exact revenge for every insult. >>neil: this gets in the way of that? >>governor huckabee: of course. it says the terrorism which this administration does not enjoy using that word, is very were alive. it is still a very dangerous world. it is dangerous because of islamic jihadists. this is an administration that does not want to accept that this is a religious holy war. >>neil: you took heat earlier say this is worse than watergate. what did you mean? >>governor huckabee: of course the left wing blogs have said things that i didn't say. i said if watergate was about a president lying and covering up, if pick bib was impeached because he lie asked covered up, if this president and his administration has lied and covered up, are we going to hold
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him accountable in the same way we have others? it caused nixon his job. it almost cost clinton the white house. are we going to re-elect a budget who was not honest with us? this is not just a mistake or that they did not have the information. we are getting evidence that they did know and they still continued the story about the film being the basis of the situation. that is a dangerous place for every american to be when we cannot trust our own government. >>neil: we will get a different reason from a democratic strategist who know as lot about how this sorts out in that sense. joe, to the gore's point that this could be a festering crisis, how the administration responded to this crisis and how forthcoming it was. what did you think? >>guest: well, it is way too early to throw around words like "why" and "coverup."
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the fact that john kerry, a democrat, is asking for answers, there will be a bipartisan look at exactly what happened here. for five days --. >>neil: what do you make of the fact that john kerry, a guy who could be a front runner for the secretary of state position, when hillary clinton leaves, he is doing this? that is unusual, isn't it? >>guest: he is doing it because the people deserve answers and there will be an investigation. this morning, the "daily beast," doing a lot of good reporting on this, they report that it was a different group that was bragging to al qaeda they did this. it was our intelligence people listening in on those conversations. even today the u.s. intelligence community, there is no consensus that al qaeda was involved. this is still evolving. we we don't. i think at the time, this
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administration believed it was the film that caused the spontaneous uprising. i agree, that is not the case. they say it is not the case. i don't see where the coverup was. >>neil: what i would ask, joe, we know of the diary of ambassador stevens that cnn got their hands on and it relayed concern on his art about growing security threats at the compound. i imagine the next thing if him would be for him to send cables or messages to the state department expressing similar angst. people want to get their hands on those cables, right? what to we get evidence of that, that, indeed, he did express that to the state department? does that make any difference in is it all just a moot point? >>guest: it does make a difference. that's what is so strange about this whole conversation. if it was an uprising,
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spontaneous, or a planned attack from al qaeda or others, the fact is, there was a security lapse here that is unthinkable. i had better security when i was in iraq than it seemed that the ambassador had. why that happened and whether we know, exactly, what his security detail was like, we don't know any of that. i think that the problem is, these things really do take time. you go back to the september 11th attack, we can send f.b.i. agents to florida to check out the flight schools. it was in the united states and we are talking about a place where it is not safe to send an f.b.i. agent. why the f.b.i.? because they do the best forensics. they are best at figuring this stuff out. it is our intelligence and others that put more fact on top
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of that letting us get to the bottom of this. this is benghazi. you do not just go wandering in with 15 or 20 f.b.i. agent. >>neil: something collapsed but we will find out. you are right, joe. very go to see you. >> i think i know why this guy had to draw pictures for the united nations. a lot them are pretty stupid at the united nations. they can tax your patience especially when they tax your wallet. are you ready ?
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election is not over because independents are not moving over to the president as much as you think. break this down. what is it telling us? >>guest: well, from what we have seen in a number of polls particularly in the battle ground states where the parties are evenly balanced, the independent voters are leaning slightly toward mitt romney. we see it in florida where some polls have them up 44-40. another has romney up 49-46. in ohio he is up just barely with independents and in new hampshire he is up 4 points among independents. what we see is that there are two things that have to lap to win an election. first, you have to mobilize your supporters to get out and vote. second, you have to sway those independents much in the united states, even people who are independent tend to lean either the republican side or democratic side. back if 2008, the independents who leaned democrat were to
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borrow a phrase ready to go, voting if high numbers. more than republicans. in 2008, 63 percent of those folks in new hampshire remain extremely interested in election compared to 54 percent of those independents would lead republicans. this year, 55 percent of independents lean republican, extremely interested in the election, and only 47 percent of democrats. >>neil: but you are so smart you are leaving me in the dust which is not unusual. i am wondering what could explain, then, the larger gap that the president is enjoying in some of the latest polls? i know they are snapshots in time but even with this surge among independents who might be pore aligned with mitt romney, the president's lead is expanding in all battleground states. does that mean this are fewer independents, period? fewer undecided, period? what? >>guest: well, a couple of
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thins are happening. some polls are pushing the undecided voter to make untheir mind between romney and obama. it is too early to do that. voters are not fully engaged, particularly the independents and marginal supporters. a last people who are saying they will vote if president obama right now, those marginal democrats who are nowhere near as excitessed as they were in 2008, by the time we get closer to the election a lot of those folks will be screened out in the screening models that pollsters use. this is likely to tighten up as we get down to the people who are actually going to show up on election day, not the people who are telling us they will five weeks out. >>neil: good point all, thank you, andy. >> what is it going to take for mitt romney to be it in the former c.e.o. of mcdonald's knows. >> mitt romney better wake up to the fact he better start bringing us down to the level where a coal miner in ohio gets
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it, a factory worker in cleveland gets it and a farmer in iowa gets it. if he doesn't, he will lose this election. >>neil: if you think that is tough love, wait until you hear the rest of that on mitt romney and president obama. that is tonight at 8:00 p.m. on fox business network. you are thinking, well, o'reilly is on at the same time, but his show repeats, like, 72 times, all right? >> forget about this guy's warning at the united nations. hear more of what is being cooked up for everyone on the planet, at the united nations. bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy.
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not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantas who would have thought? i did. we did, bob. we did. got it. the economy needs manufacturing. mhines, tools, people making stuff. companies have to invest in making things. infrastructure, construction, production. we need it now more than ever. chevron's puttg more than $8 billion dollars back in the u.s. economy his year. in pipes, cement, steel, jobs, energy. we need to get the wheels turning. i'm proud of that. making real thin... for real. ...that make a real difference. ♪
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>>neil: our upcoming debate coverage is all the buzz in hole booed. now tom and billy are involved. >> the best it has ever before. >> without studio notes. >> he is so prepared. so prepared. he comes with such a good attitude. >>neil: just doing my job. we all come prepared in our coverage and it begins next wednesday with the first presidential debate at 4:00 p.m. eastern on fox all the way through midnight on fox business network where you will catch the best political coverage married with the top financial players from all over the planet. what 90 said with some of the top business leaders, their take on all of that. a lot of the financial networks say it is a consequence queen shell election and they are running tupperware commercials.
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we on this. we mean it when we say it, it's your money. it's your life. it is important. it is important to us. >> forget me, have you heard this? before iran employees up the world the united nations wanted to hit up the world, lots of taxes, to cover everything from fighting climate change to fighting pollution including a world transaction tax. the fact that white house is not saying boo about any of it makes some wonder if we in the united states should be worried about it. former u.k. parliamentarian says we should. he is here with me now. this is weird. can the u.n. tale -- actually do this? >>guest: only if it is supported by the members. is a surprisingly open and aggressive bid if world government. it fits exactly with obama's
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strategy which he openly declares is "redistribution of wealth" from the successful to the less successful in the up. this goes a long step further. this is redistribution of american and european wealth to the third world. it is nasty enough to pay taxes to a huge government that interferes with your life but to pay and throw it around the old whorl it will mean abject policy. >>neil: but there is precedent when you fly into a european union member countries you pay a tax that goes to the e.c. and a variety of things that go to that community and the member countries whether they individually like it or not. at least on that level, there is precedent. why would the united nations push this to the point we are paying all the extra global taxes on top of what are excessive to begin with? >>guest: rightly so. the european union was set up by
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deceit. the united kingdom was taken in after being told complete lies. now, of course, we see a massive taxation going to the european union, which is undemocratic, an unelected parliament which has no power, like communist russia. we have an unelected body running the european union, massive taxation, massive regulations. >>neil: in the european union, tenally, -- technically you are not part of that, you can't say no? i thought in our country you have to go through congress for any taxes. we have not given up that right, have we? >>guest: britain has. 80 percent of british legislation comes from brussels already. >>neil: you sold yourself already? >>guest: yes. >>neil: that is why i moved here? >>guest: for freedom. now it is being threatened here. i am an american citizen.
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>>neil: you mentioned something, about top rate going up in france to 75 percent. that is the trend globally, right in not to that degree, but, there will be no place to escape. >>guest: absolutely. that is what they want, no place to escape. in britain, in the 17th century, we executed our king for high treason for selling britain down the road. the leaders that took us in and keep paying the taxes and keep supporting the european union which is merely a pilot scheme for the united nations and world government. >>neil: they must know you can't get much bang for the buck or the euro, whatever, just constantly hiking it, right? studies have been proving here and there and everywhere you never get the money you think you are going to get. >>guest: they take from the successful like germany and redistribute it to the less successful. now, that is in europe. when the world government happens under the united nations it will be from europe and the
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united states to the rest of the world. that is going to be very uncomfortable. i already see the fracturing of europe with spain and greece. people in grass roots will not stabbed -- stand it. the same thing will happen in the united states and others. there will be a vast increase in the demand if states' right in the united states if americans, who want badly enough to have to finance their own government, if they are made to pay for other countries, americans will not stand for it. they want their freedoms. america is more than a country. it is an ideal. >>neil: all right, john brown. >> remember this? i hate to burst your bubble, we are not over that at all. so anyway, i've been to a lot of places.
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>>neil: who says we worked this financial mess out? remember the meltdown? not everyone is cooled down. g.e. and a.i.g. may need to stay after class because the books do not look too classy and they could be vulnerable if there is another downturn. that enmews the treasury demands they set aside more cash or lower risk exposure. charles gasparino is here on what that might mean.
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>>guest: it is g.e. capital which almost put the whole firm unback in 2008 because of their risky investments and people pulling money out. if the government did not bail them out they could not have paid their employees. >>neil: does this mean they are exposed again in in this case? >>guest: a.i.g. was one of the causes of the federal crisis, they insured all the ricky assets on the books of the big banks so it was on the hook to recover them. if it could not cover them, right, they would be, maaed down, and the behalves would go out of business. >>neil: do you thing we can have another meltdown? >>guest: you never want to say no. europe is a problem. they have a lot of problems.
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>>neil: as much exposure? >>guest: no one knows. our banks today, including a.i.g. there is not a bank but an insurance company that insures bang assets and including g.e. capitals is all connected with assets that are tied to the european banks. that is why they are put on the watch list with everyone else by this systematic financial whatever it is called. >>neil: are they covering their behind in if something does hit the fan treasury can be on record saying, well, we did kind of warn everyone. >>guest: well, i'm looking for the worst intentions. they have good intentions, i think. i don't think this works. i think they have the intent to look at every your firm that has a birthday systematic risk. the problem is, when you get on the lists they are saying that the banks are too-big-to-fail. they will not tell you that. that is the situation. >>neil: if one of them gets in trouble or someone not on the
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list we would not bail them out again? >>guest: these are especially the ones. jon corzine's firm, we would not bail it out. >>neil: we would not let a bank of america go under. >>guest: it is impossible. >>neil: charlie gasparino, thank you. >> in the meantime, for now, we are grateful that g.e. cap dallas and a.i.g. are not tanking just yet just as we are thankful the economic numbers are not soaring. the last few years that has been the drill: celebrateing today with spending numbers that remain not off the charts but they had us off the map. and a shrug to the latest g.d.p. news. it russia returning. but there is still a plus sign. steve moore has had enough. the best selling author says we should not be settling for recovery that is, at best,
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muddling. but we do, don't we? that is the dynamic. >>guest: i agree. one of the things that is disappointing about the election, i like the way that president obama ran four years ago when he ran on hope and change. now what he is running on is, this is the best we can do, america. we contrasted that, by the way, in our editorial this morning, with john f. kennedy in 1960 running against the eisenhower and nixon economy. at that time the economy was growing 2.5 to 3 percent and john f. kennedy famously said, we can do better. he minute by that, we should aspire to 4 percent or 5 percent economic growth. it is demoralizing when the president said we are only growing at 1.6 percent or 1.7 percent but this is the best we can do. >>neil: that is the worse john f. kennedy impression ever. i am kidding. >>guest: i am in chicago. i cannot do the boston accent. >>imus: we have mentioned this
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in the past. we had years of getting used to crappy numbers. when they are not as bad we do a jig. i can remember, as you can remember, and i don't think we are that sold, steve, that this would be laughable in any country, yet, maybe because we got used to so little we are grateful for so little. >>guest: there is some truth to that. people are so traumaized by what happened in 2008 and 2009. you were talking with charles about the collapse of the banks and it looked like the economy was in a free fall now 1.7 percent growth, steve is like, well, that is not is bad but compared with the average recovery and we had nine recessions prior to this after world war ii, this is by far the weakest. we looked at g.d.p. numbers of this recession, recovery, versus the past, the recovery rate has been half as large as it should be. if i may add to that, the
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difference between the growth of this recovery versus the normal recovery, if we had the normal recovery growth rate we would have $1 trillion more g.d.p. today. this is reducing where we should be. >>neil: it is a sad world if that is the case. whether you are on the right or left. we can do better. >>guest: the income numbers are poor, too. the $4,500 reduction in family income is not treading water. that drowning. >>neil: this make me forget the horrible john f. kennedy impression. good job, my friend, have a great weekend. >>guest: can i do a little quick shout out for my dad? 90th birthday, world war ii veteran, in the pacific, freedom fighter, i am here in chicago for his 90th birthday. >>neil: my best to him and you and your family. greatest generation. when we come back you might as
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(screaming). >> >>neil: kids can be difficult. are they really a pain in the "air." one airline things so, banning kids from sitting at front of the plane, the first 15 years declaring it a "quiet zone." could american airlines, not american, but the airlines in america, get away with this? our legal eagles are ready to try this. we have lis wiehl and an attorney, stacey. lis? >>lis: you pay your money, your ticket and i heard that i was sketching inside because i
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have two kids of my own and been the planes and my son now, 20, screaming his face off. i get you. you pay your pun, though, and you get that seat. you cannot segregate it. we last segregation a while ago. remember the back of bus? >>neil: if my kids were in the 16th row you could still hear them. what do you think? i disagree. completely legal. i'm ready to boy a ticket on that airline. there is nothing discriminatory. >>neil: you are a hater. >> who can it is through the flights with screaming babies. it is a service industry. >>neil: what if the kid is kicking your site. or worse in. >> these are private service providers. if they decide they want kids in a certain area to give peace and
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quiet to business travelers or others they have a right. >>neil: what they are kicking your seat? >>guest: i don't see this as a slippery slope. >>neil: i wish you could get off the passenger thing and go back to the kid. i think that is happening here, but to our point, though, do you think it is in an airline's right to consider passengers say this is a pain for us. >>guest: what you can do is advertise it that way and say you can pay more and put your kids in the become or something like that but segregation on that basis where you pay equal amount of money for the same place on plane is not right. it is wrong. it is illegal. it is a slippery slope. >>neil: they have forced the issue of one seat. if you spill over to the seat
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you pay for the other seat. >> that is a pound issue. >> there is no skim in step purpose or intention here. >>lis: restaurants have smocking -- smoking kids and nonsmoking sections. >>neil: i think they are sending a signal, we don't like kids. so only singles will fly. clud med. if you are a parent you will not take your kids. i go to school night with my kid s, this is interesting. i am just saying, is it really that much of a stretch? i think they would be in their
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abilities? >>guest: we are not discriminating. there is no harm. >>neil: you have an issue with kids. you don't like kids. >>lis: how about the mom and dad? >>neil: or the mom and dad who fight in adult would fight? >> remember you cannot compare racial discrimination to --. >>neil: or the woman who hides a little dog in the bag. >> that is annoying. annoying. >>neil: by the way, by the way, that is the reaction from a viewer, that screaming you heard in the back ground. they are screaming because they cannot get our debate coverage. and now "the five," just ahead. i guess you have never flown with bob beckel. that is an experience. forget the kids. >>neil: he is the last guy i want to be suck on any plane,
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even if it is the plane that seats 500. all these legal issues come back and north, and i wonder, do they waste time getting so involved in the details that it is not using common sense. >>guest: i think so. we want to sue everyone other anything, so we will see these cases come up. it is people that want attention and as for kids on the plane, that is mean spirited if you don't let kids my. >>neil: you are getting something that started out bizarre and it got scary. what happens? >>guest: this is interesting story. there is a guy, a pilot, and he is right there, that is his girlfriend, carley, who is a surgical resident. they are going up in the plane, on a nice flight and suddenly he said, we are encountering emergency technical difficulty. get out manual, the plane is politic to go down. he tells her to read. in it is a proposal and she
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things she is about to die but instead she is about to get married. >>neil: he sounds like a idiot. >>guest: like a moron and i would have rejected that preliminary and stuck him out on the emergency exit. >> how hard is it to fly a plane? >>neil: a weird one. whatever happened to the day, you just ask the girl do marry you? hey, you got nothing to do, want to get married? >>guest: he is a thrill seeker and wanted to do a surprise wedding because because she a surge school resident and slow is aware of emergencies. >>neil: i am tell this, would, leave now. leave now. >>guest: trouble is on the horizon. >>neil: i can't wait to see beckel's take on it. >>guest: you will get that at 5:40 eastern on "the five." >>neil: not that we need marriage advise from bob beckel. >>guest: see you in 12
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minutes. >>neil: it turns out that the president did meet with binyamin netanyahu after all. own the phone. forget e.t. call home, washington, dc, get a clue! does your phone give you all day battery life ? droid does. and does it launch apps by voice while learning your voice ? launch cab4me. droid does. keep left at the fork. does it do turn-by-turn navigation ? droid does.
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>>neil: the phone line over the president obama to talk to binyamin netanyahu over the red line, that the nuclear renegade country could thought talk. what do you think, bob? >> the white house was put on the defensive because romney and republicans have been going after the 39 on how binyamin netanyahu and, remember,
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president obama has not gone to israel. the white house putting out a state on a read out of the phone call, and they grow on everything, on iran, they are in full agreement. they wanted to do this just because they were bothered by the stories. >>neil: it is done, now, he did not meet with any leaders when they came to town. is there any fallout from that or is it such he is in campaign mode? that is the focus. he has more to gain appearing on shows like "the view" than chatting with people like binyamin netanyahu. >> there have been jewish lawmaker whose have been bothered by the fact he did not meet with binyamin netanyahu and he did not go to israel in the first term. the bulk of jewish voters will vote for obama but he needs to get them out. this phone doll was a bow to do that it will not play that much in the election. it is all about the economy, but, clearly, they did not want
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romney to talk about this issue although he might in the upcoming debate on foreign policy. >>neil: we shall see. bob, thank you very much. can we show that picture again, the president talking to binyamin netanyahu? how do we know? okay, trust me, i am on the phone with netanyahu. prove it. >> it is one thing when the friend make fun of us. >> this crisis was not originated in europe, this crisis was originated in north america. >>neil: i know what you are saying, he is not friend, he is portugese, but he soups french. it is another thing when investors say the french who are not your french, but they sound french, because they are calling themselves french, are right. and annoying account fees. at e-trade, our free easy-to-use online tools and experienced retirement specialists
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can help you build a personalized plan. and with our no annual fee iras and a wide range of low cost investments, you can execute the plan you want at a low cost. so meet with us, or go to etrade.com for a great retirement plan with low cost investments. ♪ for a great retirement plan with low cost investments. romney: "it's time to stand up to the cheaters" vo: tough on china? not mitt romney. when a flood of chinese tires threatened a thousand american jobs... it was president obama who stood up to china and protected american workers. mitt romney attacked obama's decision... said standing up to china was "bad for the nation and our workers." how can mitt romney take on the cheaters... when he's taking their side?
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♪ ♪ >> neil: well, if you blink, you might have missed it. man, oh, man, i can't believe it. for a brief moment this morn,
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chinese currency traded at the highest level against the dollar ever. at least the highest since the launch of the modern chinese currency trading system that made the wan the currency to watch in 1994. i know, some of you might be bored by this, but hear me out. it's a currency to fear in 2012. china is growing investors. that's what that means. we are not. anything china is big, anything us is not. without the intricacies of the global trading, we have been traded. the world is cashing out of us and cashing in on someone else. china. not all the time but increasingly enough of the time that you have to wonder if it's more than just a little different this time. they buy the wan, they sell dollars. they place bets on country they think is a good investment and more and more
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they are selling a company they think is not. it's a good investment. not a surprise when you consider the debt we're piling on that investors are piling out. if you consider a federal reserve that forced interest rates to zero than the buyers have're row interest in buying our currency. not to say we're still not a draw. just we're increasingly not as much of a draw. we have to share that drawing power. it hurts when economists warn about such things. it really hurts when you see things as i said this morning when china pulled ahead of global interest for our current. gone are the days folks talk behind america's back the best days are behind it. now they're investing on it and making money off of it. that's what happens when you pile up debt, you pile up folks who just think you're a joke. further, they no longer furthein